As market fast approaches this resistance level,if market decides to take a tumble down again, then we will find support at the 2 TP levels identified on the chart, which isn't necessary where the market will end but where i will TP for now.
Please note that this chart is an opinion based chart only. Please trade at your own risk
This is a very straightforward trade. Following CHF's weakness today across major pairs and a mild USD rally, FX:USDCHF is now back at the top price levels since March 2017, repeating itself over 5 times already. There were a series of higher lows and approximately same highs, forming an ascending triangle on a macro level but a slight bearish...
on USDCHF we will have a great short option right now after a dripple top, lets trade the reversal and maby
the break of the bullish chanal of the last weeks.
This is a swing trade.
Your Stefan Forex
We see the formation of a bearish bat pattern (blue) and the completion of an ab=cd pattern on the 4 hr chart. The completion of the ab=cd pattern signaled us to sell the pair and our strategy is to trade the 4th leg of the bat pattern. FX:USDCHF